Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets made gains for the second consecutive day on Tuesday after reports of a positive outlook for 2025.
Abu Dhabi Securities Exchange’s (ADX) general index — FADGI — was up by 0.115%, reaching 9,439.27 points. A total of 26,133 trades were recorded, involving 444 million shares with a combined value of Dh1.325 billion.
The UAE’s biggest lender FAB made gains of 4%, leading to a rise in overall gains in the market.
International Holding Company (IHC), in a stock market disclosure, said 38.8% of total shares are free-float, meaning they are available for trading on the stock market. The main shareholders are Pal Group of Companies (48.56%), Royal Group (12.64%), UAE corporate investors (26.49%) and foreign corporate investors (11.53%). The disclosure was made as part of the commitment to market transparency.
The total market capitalisation of all companies listed on the ADX reached Dh2.963 trillion. Out of the 94 companies traded at the ADX, share prices of 43 companies rose, while 29 declined, and 22 remained unchanged.
Top gainers included Aram Group (+14.81%), Hily Holding (+9.75%), Eshraq Investments (+5.00%) and FAB (+4.11%), while notable losers were Oman and Emirates Investment Holding (-9.89%), Commercial Bank International (-5.32%) and Al Khaleej Investment (-4.84%).
DFM
The Dubai Financial Market’s (DFM) general index (DFMGI) was up by 0.448% to reach 5213.93.
Emirates Islamic Bank rose by 3% and Emirates NBD up by 1.7%, leading to overall positive gains at DFM.
A total of 17,257 trades were executed at the DFM, involving 407 million shares with a combined value of Dh811 million.
The prices of 30 companies rose, while 18 declined, and five remained unchanged.
Among the top gainers were Dubai Refreshment Company (+14.81%), International Financial Advisers (+10.58%) and Ekttitab Holding (+7.18%). The most notable losers included National General Insurance (-3.23%), Takaful-Emirates (-2.94%) and Al Mal Capital REIT (-4.08%).
The recently listed companies Lulu Retail and Talabat, which had made tame debuts at ADX and DFM, respectively, are surging to regain their value. Lulu rose by 1.56% to end the day at Dh1.95. Talabat surged by 6.7% to reach Dh1.58.
Elsewhere in the Gulf, Saudi Arabia's benchmark index (.TASI) closed 0.1% higher, helped by a 1.8% rise in Saudi Telecom Company and a 1.1% increase in the country's biggest lender Saudi National Bank.
Saudi healthcare provider Almoosa Health Co climbed 15% to 146 riyals per share on its debut against an offer price of 127 riyals.
The Saudi market continued its recovery, fuelled by banking sector growth and Almoosa's successful initial public offering debut, Joseph Dahrieh, Managing Principal at Tickmill, told Reuters. Positive sentiment and upcoming fourth-quarter earnings results may drive further gains.
The Qatari index (.QSI) fell 0.3%, hit by a 0.7% fall in the Gulf's biggest lender, Qatar National Bank.
Outside the Gulf, Egypt's blue-chip index (.EGX30) dropped 0.8% as most of it constituents were in negative territory including tobacco monopoly Eastern Company, which retreated 4.1%.
